Nike cuts ties with Armstrong's cancer charity
In a latest fallout from Lance Armstrong's doping scandal, sportswear giant Nike has cut ties with the disgraced cyclist's cancer charity Livestrong, which it had helped build into a global brand and introduced its familiar yellow wristband.
The move by the sports shoe and clothing company has ended a nine-year relationship that helped the foundation raise more than 100 million dollars and made the charity's bracelet an international symbol for cancer survivors, the Guardian reports.
However, officials of Livestrong, which changed its name from Lance Armstrong Foundation after Armstrong was pushed off the board of directors in October 2012, said the foundation remains strong and committed to helping cancer patients worldwide through its survivorship programs.
Stating that the foundation is 'deeply grateful' to Nike, the officials further said that with Nike, the foundation created new, revolutionary ways of thinking about how non-profits fuel their mission, adding that the charity remains on solid financial ground.
According to the officials, although the news will prompt some to jump to negative conclusions about the foundation's future, they however, are in a good position to adjust swiftly and move forward with their patient-focused work as they expected such a move after the doping fiasco.
Nike dropped its personal sponsorship of Armstrong last October after US Anti-Doping Agency exposed the US Postal Team doping program and portrayed Armstrong, who started the charity in 1997, as its ringleader. (ANI)
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